Instacart has been laying off staff and cutting down on new hires as it heads toward an initial public offering (IPO), a report from The Information said Saturday (Sept. 24).
The company has fired some of its over 3,000 employees after it had midyear performance reviews. The report, citing anonymous sources, said Instacart fired at least three senior-level employees in the past few weeks — though no top management was fired.
The company has also paused hiring for various positions. Managers also reportedly got instructions to cut down on spending in various areas such as travel and team gatherings.
Source: Pymnts
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